Mtanga Foods | Agri Vie invests $6m in the Tanzania Food Corporation
Mtanga Foods, Tanzania is an established food production chain including potatoes, cattle, sheep, maize, soya, barley and on-site abattoir and butchery.
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Agri Vie invests $6m in the Tanzania Food Corporation

 
Growth & Investment

Agri Vie invests $6m in the Tanzania Food Corporation

Posted by Tharina Haas in Agri-Vie, Alan Mayers, East Africa, Herman Marais, Mtanga, Mtanga Farms LTD, Tanzania, Tanzania Food Corporation

Posted on June 4, 2013 by Hannah Friend

 

 

Agri Vie, the Sub-Saharan private equity fund investing in food and agribusiness, has announced a  ($6m) investment in Mtanga Foods..

The fund is a private equity investment fund focused on food and agribusiness value chain in Sub-Saharan Africa.

This acquisition by the fund follows the fast growing consumer demand for processed beef due to the rapid urbanisation in the region and growing consumer spending in the emerging markets in East Africa.

Managing partner of Agri Vie, Herman Marais, said: “There is a growing demand for quality meat products thanks to a growing middle class, increased investment, increasing awareness of food safety and the growth and development of a number of sectors in the country.”

He added that there is currently a low level of consistent, competitive supply of quality beef meat products produced in Tanzania.

“Tanzania once had a thriving beef industry and there is now ample potential to revive the market,” he said.

Marais also pointed out the significant scope for value added products, as around 700 metric tons of processed meat is currently imported into the country each year.

The TFC plans to use the funding to improve the local beef industry to meet a growing local and regional beef demand.

“Agri-Vie’s injection of risk capital over the next few years, the importation of genetic material from neighbouring African countries, enhanced animal feeds and beef sector know-how will see the company increase production and sales many-fold,” said Alan Mayers, Chief Executive Officer of Mtanga Farms Ltd.

“We are proud to join the local and international founding shareholders of TFC who have developed the venture to a stage ready for significant expansion.”

TFC operates mainly in the southern highlands of Iringa and comprises a value chain of abattoir and processing facilities, sales and distribution channel, an estate rearing beef cattle, in combination with a supply chain for a fattening herd of cattle and sheep and an arable farming operation focusing on maize and soya as a basis for animal feeds.

http://www.africaammagazine.com/tag/mtanga-farms-ltd/

 

 

04 Jun 2013 No Comments

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